Source: Chartered Secretary in court for money laundering – NewsDay Zimbabwe
By Desmond Chingarande
An Institute of Chartered Secretaries and Administrators of Zimbabwe employee Itai Mazambani who mistakenly received $74 million into his NMB Bank account and withdrew all the money into various accounts has been charged with money-laundering.
Mazambani (47) appeared before magistrate Stanford Mambanje who granted him $100 000 bail.
Mazambani who was being represented by Admire Rubaya was remanded to March 29 pending finalization of investigations.
He is also facing theft charges and violating exchange control act.
Allegations are that Mazambani acting in connivance with Persuade Jeche exchanged $1 840 million the money he received from NMB to change it into US$8 000.
It is alleged that between February 8 and 11 this year, Mazambani allegedly committed a predicate offence of theft whereby he stole $66 453 717.99 and for the purpose of concealing or disguising the illicit origin of such money transferred into individuals and companies accounts as picked on his bank statement.
Mazambani further converted all the money into foreign currency which the state alleges is in such a way that could not be identified or located.
